Ovintiv Inc. (NYSE: OVV) to Post Fiscal 2021 Earnings of $ 5.41 Per Share, Capital One Financial Forecast
Ovintiv Inc. (NYSE: OVV) – Research analysts at Capital One Financial increased their earnings estimates for fiscal 2021 for Ovintiv shares in a research report released on Wednesday, November 3. Capital One Financial analyst P. Johnston now predicts the company will earn $ 5.41 per share for the year, up from its previous forecast of $ 5.13.
Several other research analysts have also weighed on the stock recently. Truist Securities raised its price target for Ovintiv stock from $ 44.00 to $ 50.00 and gave the stock a “buy” rating in a report released on Thursday, October 7. Truist raised its price target on Ovintiv from $ 44.00 to $ 50.00 and gave the company a “buy” rating in a research note on Thursday, October 7. Morgan Stanley increased its price target on Ovintiv from $ 46.00 to $ 54.00 and rated the stock “overweight” in a report released on Wednesday, October 6. Cowen downgraded Ovintiv from a “market performance” rating to an “outperformance” rating and lowered its stock price target from $ 40.00 to $ 39.00 in a research note on Tuesday August 24. Finally, Bank of America launched a cover on Ovintiv in a research report on Tuesday, August 17. They set a “buy” rating for the company. Five investment analysts gave the stock a conservation rating and twenty gave the company a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $ 36.27.
OVV opened at $ 36.67 on Thursday. The company has a fifty-day simple moving average of $ 33.39 and a 200-day simple moving average of $ 29.32. Ovintiv has a 12-month low of $ 9.16 and a 12-month high of $ 40.65. The company has a quick ratio of 0.43, a current ratio of 0.43, and a debt ratio of 1.22. The stock has a market cap of $ 9.57 billion, a P / E ratio of -4.68 and a beta of 3.67. Ovintiv (NYSE: OVV) last reported its quarterly results on Tuesday, November 2. The company reported earnings per share (EPS) of $ 1.50 for the quarter, beating the consensus estimate of $ 1.47 by $ 0.03. Ovintiv recorded a positive return on equity of 18.65% and a negative net margin of 32.51%. During the same period of the previous year, the company posted ($ 0.03) earnings per share.
A number of hedge funds have recently bought and sold stocks. Amundi Pioneer Asset Management Inc. increased its stake in Ovintiv shares by 318.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 797,623 shares of the company valued at $ 5,775,000 after purchasing an additional 606,969 shares during the period. Renaissance Technologies LLC increased its stake in Ovintiv by 81.3% in the first quarter. Renaissance Technologies LLC now owns 217,488 shares of the company valued at $ 5,184,000 after purchasing an additional 97,528 shares during the last quarter. Guggenheim Capital LLC increased its stake in Ovintiv by 15.6% during the first quarter. Guggenheim Capital LLC now owns 33,990 shares of the company valued at $ 809,000 after acquiring an additional 4,588 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Ovintiv by 1.4% during the first quarter. UBS Asset Management Americas Inc. now owns 53,761 shares of the company valued at $ 1,281,000 after acquiring 763 additional shares during the last quarter. Finally, CIBC Asset Management Inc. acquired a new stake in Ovintiv during the first quarter for a value of approximately $ 304,000. Hedge funds and other institutional investors hold 70.12% of the company’s shares.
Ovintiv Inc, together with its subsidiaries, is engaged in the exploration, development, production and marketing of natural gas, petroleum and natural gas liquids. It operates through the US Operations, Canadian Operations and Market Optimization segments. The company’s main assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeastern British Columbia and northwestern Alberta.
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